“We look forward to the continued expansion of our firm, operating independently and enhancing how we service our clients worldwide.”

The transaction is expected to close no later than January. Financial terms were not disclosed.

McLarens loss adjusters and managers will maintain a substantial stake in the business, a US-based spokesman says.

Lee Equity Partners typically invests $US50-$US100 million ($69.44-$138.99million) of equity per transaction and targets financial and business services, healthcare and the consumer sector.

McLarens global CEO Gary Brown says the private equity group was selected as an investment partner due to its shared view of the company’s strategic growth plan and “substantial experience” in the insurance services sector.